dfcu Bank partners law society to drive women business

October 19, 2018 in Business, Companies, Finance, Investment, Policy by Editor

October 19, 2018—Helping Ugandan women entrepreneurs achieve their business potential has led dfcu Bank to partner with the Uganda Law Society (ULS).

“dfcu has a strong partnership with the ULS Female Lawyers Committee. We work with them and we come in to advise their businesswomen especially those who work in Kikuubo (a leading trading hub), but this time we felt that the female lawyers themselves needed financial literacy training,” Jacqueline Namazzi, Chairperson  of the Committee said recently in Kampala.

She was speaking at a financial literacy training session involving 50 women and part of the dfcu’s Women in Business (WiB) project.

She said, “We know so much about the law, about court, but little on personal and business finances. We felt that the lawyers needed that extra education. It’s not a bad idea for them to be exposed to the different investment and saving avenues that the bank offers but also mainly how to manage finances.”

In terms of assets, dfcu Bank is Uganda’s second biggest financial institution and since 2007 just over 25,000 women have benefited from capacity building sessions, a centerpiece of WiB. The program was motivated by a number of factors including despite women being 52 pc of the population of Uganda, this was not proportionate to the ratio of women who are banked.

Victoria Byenkya, Manager Women in Business at dfcu Bank said, women bring their own unique perspective and voice to the world of finance. She said in time, their voices become more prevalent and everyone will continue to benefit from the financial literacy conversation.

“More women today are realizing the importance of being financially literate. They feel more empowered to control their personal, family and business finances,” she said.

One of the trainees,  Charlotte Nalumansi said, “From the training I was able to be educated about the basics – things that you know, but don’t really do. The need to take action on saving, investment and living a simple life. I would highly recommend more sessions for financial literacy are set up for us and of course, I appreciate dfcu bank for putting this together” said one of the trainees. To date, 1,370 women have benefited from WiB.